Do you want to get access to the home of your dreams within no time? Or are you looking to purchase a house as a first-time buyer? Mortgage loans from alternative lenders are an ideal option considering the high qualifying criteria of majority banks. With much stricter standards, It’s becoming harder for people with low credit scores to qualify.
Alternative lenders work like a breeze in this regard, and they listen to customer requirements instantly. It saves borrowers from undue scrutiny and gets customized loans accordingly.
Even with a low credit score, we list some outstanding mortgage lenders with premium services described below.
TurnedAway.ca
Over 30 years of experience and a stream of over 60 lenders make TunedAway.ca the best home buyer mortgage option in the market. They specialize in working with people who have poor credit scores and unstable incomes. This reliable service offers flexible lenderwithve minimum penalties over late or missed payments.
With this platform’s service, getting the house you want seems not too far out of reach. TurnedAway.ca mainly approves applications within 24 hours. Along with this, the service provides some other benefits mentioned below.
- Easy rate locking by borrowers within minutes.
- Alternative credit data availability.
- Loan pre-approval within a short time.
- Low credit score requirements.
- Online service is available 24/7.
QuickenLoans.com
Another notable platform that offers flexible terms and rates in mortgage loans for first-time buyers is QuickenLoans.com. Its online experience is highly borrower-friendly, with 24/7 available customer service.
This website is available over a wide area for respective people. Along with this, they offer various types of loans, making it easier for the consumer. Some of the advantages of this platform are stated below.
- Flexible repayment terms and conditions.
- Competitive interest rates.
- Quick rate locking facility.
GuildMortgage.com
A well-reputed mortgage lender providing customers with in-person and online mortgage loans within no time is GuildMortgage.com. They offer an easy online application process. Their service is fast and effective.
This website offers interest rates on loans that can be easy to repay. Along with these, there are other benefits of this service explained below.
- Tailored home-loan option availability.
- Low down-payment assistance is available for borrowers.
- E-closing capabilities are present.
Better.com
A platform that made its mark as one of the best alternative mortgage lenders among the lot is Better.com. Its online application process requires minimal information and provides quick approvals.No high credit score and employment criteria.
Better.com provides customers with instant loans without having to visit banks for weeks and months on end. Bettter.com offers multiple mortgage types, such as fixed- and adjustable-rate conventional and jumbo mortgages. Along with all this, some other prominent benefits of this service are elaborated below.
- No commission or lender fee requirement.
- Automatic discount search availability for borrowers.
- Bridge loan program availability.
- Alternative credit data availability.
Guaranteed Rate/Rate.com
Another platform that is well-reputed for it’s lower mortgage loan rates than the other lenders is Guaranteed Rate/Rate.com. This forum works best for first-time home buyers with an easy online application and a pre-approval letter reception between 24-48 hours. It offers mortgage loans on some other ideal terms.
An easily-trackable system allows customers to track their applications online. They easily entertain people with low credit scores. Apart from this, some of the advantages of this site are explained below.
- Low credit score requirement.
- Low-interest rates.
- No commission or lender fees.
- Alternative credit data availability.
Conclusion
Buying a new home can be arduous for first-time buyers with no established credit score. Alternative Mortgage lenders make this task easier with their low credit score criteria and quick approvals.
TurnedAway.ca and QuickenLoans.com work to provide loans to borrowers with flexible terms and low-interest rates. We hope this list helps to decide which service works best according to your requirement.
